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SBI board okays Rs 3,004 crore infusion

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SummaryThe board of State Bank of India, has approved a capital injection of Rs 3,004 crore by the government through preferential allotment of shares in the current fiscal year.

The board of State Bank of India, has approved a capital injection of Rs 3,004 crore by the government through preferential allotment of shares in the current fiscal year. The funds will be used to support local and international banking operations, and the bank is seeking separate approvals from the government and the RBI to raise its issued capital, SBI said in a statement.

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